RECOMMENDED READING

Articles & Books

Articles

• The Art of Stock Picking by Charlie Munger, December 2008
• The Superinvestors of Graham and Doddsville by Warren E. Buffett – an edited transcript of a talk given at Columbia University in 1984 commemorating the 50th anniversary of Security Analysis, written by Bejamin Graham and David L. Dodd.
• Berkshire Hathaway Annual Letters to Shareholders

Books

“The Little Book of Value Investing” by Christopher H. Browne (2007) – a relatively short and easy to read book on the basics of value investing by the son of one of the founders of US investment manager Tweedy Browne which manages $18bln.

“The Intelligent Investor” revised edition by Benjamin Graham (1976) – known as the stock market bible since its’ original publication in 1949 and described by Warren Buffett as ‘by far the best book on investing ever written’.  The Intelligent Investor built on the earlier classic by Graham and David L. Dodd published as “Security Analysis” (1934).

“The Warren Buffett Way – Investment Strategies of the World’s Greatest Investor” by Robert G. Hagstrom Jr. (1995) – this New York Times bestseller provides great insights into the key investment decisions that resulted in an unmatched track record and the philosophy and thinking of Buffett.

Investment Wisdom

“No wise pilot, no matter how great his talent and experience, fails to use a checklist”
– Charlie Munger

“There seems to be some perverse human characteristic that like to make easy things difficult” 
– Warren Buffett

“We really like to think about buying a stock as owning a piece of the underlying business”
– Heather Brilliant, Morningstar